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Offshore Asset Protection
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Because of excessive litigation in the US and
elsewhere Offshore Asset Protection is definitely
an option to explore. Businessmen entrepreneurs
and professionals in an environment of predatory
litigation are forced to look for ways and means
where they can protect savings, investments
and accumulated assets. Offshore Asset Protection
offers this kind of protection.
The
Need : In
the US the legal system favors the plaintiff
and places the defendant statistically at a
disadvantage. This only serves to encourage
the predatory litigation and a business owner
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or
professional can expect to sued multiple times over
his life time
Don't
Wait: Should the resulting judgment be unfavorable
the defendant stands to lose all the assets built
over many years of investment. Getting ones assets
outside the jurisdiction of the US court system appears
to be one remedy. However once a claim has been filed
the legal system will not allow any assets to be moved
for offshore protection. In fact, it will be determined
to be "fraudulent conveyance" and all your
assets will be retracted. The time for offshore asset
protection implementation is now not later.
The Climate Changes: However the Offshore
Asset Protection climate always changes.
Countries that used to be private tax free havens
under threat of sanctions have agreed to enter into
treaties with the US and other industrial nations
to allow the pursuit and investigation of tax fraud.
Furthermore the courts have taken a less favorable
viewpoint of offshore trusts as determined by some
high profile court cases in 2000.
With
911 the offshore environment has even become more
disfavorable, under the threat of terrorism everyone
has come under intense scrutiny. That is not to say
offshore asset protection does not have a place, it
does. There are many international offshore corporations
operating in this country and they will always continue
to do so. But everything has to be done procedurally
correct and with full disclosure.
No
Privacy- Act Accordingly: In this day of electronic
banking and extensive global money tracking, privacy
doesn't exist anymore. You want to get solid information
and advice to make sure you can take full advantage
of offshore laws and don't put yourself in a worst
position if the offshore privacy you thought you would
have doesn't end up as it appears to be. Act accordingly
by doing your thorough research as to getting proper
offshore asset protection in favorable jurisdictions.
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